ECO 372 Week 5 Knowledge Check NEW

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ECO 372 Week 5 knowledge Check NEW
1.In the U.S. current account, most of the trade
deficit results from an excess of imported 2.What
is the difference between the balance of trade
and the balance of payments?
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3.If a government has implemented significantly
higher trade tariffs, but does not want this
action to affect the value of its currency, it
will 4. During 2007, the United States and Japan
announced possible limits on Chinese imports
through higher tariff rates on Chinese products.
To avoid these limits, China would have to 5.If a
country wants to prevent its exchange rate
from falling, it could
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6.All other things being equal, an increase in
trade restrictions on imports will